The US will not charge any ad valorem tariff on certain speciality drugs and associated ingredients used for treatment of rare medical conditions imported from India and 19 other countries.
An ad valorem tariff is a set percentage of the monetary value of the goods to be taxed, according to the World Customs Organisation.
The US Commerce Department published the list of countries in the Federal Register as it prepares to impose a 100 per cent tariff on certain patented pharmaceutical imports and their associated ingredients from September 29.
On April 2, President Donald Trump issued a proclamation to impose tariffs on imports of patented pharmaceuticals, biologics, and associated ingredients into the US as part of efforts to encourage domestic production.
Eligible products for the zero per cent tariff rate include all drugs designated for rare diseases, infertility treatments, cell therapies, gene therapies, antibody-drug conjugates (ADCs), and animal pharmaceuticals. Components o
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